Telecom expense management refers to a service adopted by enterprises for optimizing telecom cost, handling inventory management, bill payment, procurement and invoice management, and other functions carried on a single platform.
Technology giants such as Accenture PLC (Ireland), Avotus Corporation (Canada), Control Point Solutions (U.S.), Invoice Insights (U.S.), MBG (U.S.) are some of the major players in the telecom expense management market. Accenture PLC is the leading player in the global telecom expense management market. The company provides comprehensive telecom expense valuation and solutions that is required to improve the communication, efficiency, enable clients to minimize telecom cost and improve service levels.
Increasing demand for mobile applications, growing popularity of portable equipment’s in enterprises and upcoming advancements in telecom expense management are driving the growth of the global telecom expense management market. Furthermore, increasing adoption of mobile devices, visibility into expense management, and growing popularity of cloud-based services are aiding the market growth.
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Major key Players
Accenture PLC (Ireland),
Avotus Corporation (Canada),
Control Point Solutions (U.S.),
Invoice Insights (U.S.),
Ezwim B.V, MDSL (The Netherlands),
Econocom (Belgium) among others.
According to Market Research Future Analysis, the global Telecom Expense Management Market is estimated to generate revenue of approximately USD 4 billion by 2023 growing at a CAGR of 18% during the forecast period 2017-2023.
The global telecom expense management market is segmented into solution, service, organization size, and end-user. The end user is further segmented into automotive, consumer goods & retail, BFSI, transport and logistics, and others. However, the IT & telecommunication segment is expected to hold the largest share of the telecom expense management market owing to the increased IT infrastructure, expansion of markets across globe, increased expenditure on mobile devices, and advanced communications channels to connect with employees, customers, and clients. Based on the solution, the market is segmented into dispute management, inventory management, invoice and contract management, procurement management, and others. Based on the service, the market is segmented into hosted, licensed software, managed service, and others. Whereas, based on organization size, the market is segmented into small & medium enterprises, and large enterprises.
The global telecom expense management market is studied for Asia Pacific, North America, Europe, and Rest of the World. North American region is leading the global market. The market is witnessing a rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. The U.S. is the leading country in this regional market and holds a major share of the market both in terms of revenue as well as the adoption of mobile applications. Asia Pacific and the Middle East region is expected to show the highest growth opportunities in the market over the forecast period owing to increasing population, growing mobile users, rising popularity of bring your own device technology (BYOD) and flourishing IT & telecommunication.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Telecom Operators
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